Jubilant Pharmova subsidiary to appeal Rs 53.37 Cr tax disallowance

Jubilant Pharmova Ltd's wholly owned subsidiary, Jubilant Biosys Limited, received a rectification order from the jurisdictional Assessing Officer in Noida for Assessment Year 2019-20, disallowing brought forward losses of Rs 53.37 crore. The order, dated June 29, 2026, amends the assessment under Section 143(1) of the Income-tax Act, 1961, for Financial Year 2018-19. The company believes the tax adjustment ignored facts and legal provisions and plans to challenge the decision.

The subsidiary is preparing to file an appeal before the National Faceless Appeal Centre (NFAC), the first-level Appellate Authority. Management expects the impugned adjustment to be deleted post-adjudication and does not anticipate any material adverse financial implications from the order. The event was reported to the exchanges on June 30, 2026.

The tax dispute centers on the disallowance of losses carried forward from previous years. The Assessing Officer in Noida rejected the claim, leading to a potential tax liability for the subsidiary. The company maintains that the order is not sustainable under the provisions of law.

Details of the Rectification Order

Sr. No.	Brief details of Litigation	Name of the opposing party	Court/tribunal/ Agency where litigation is filed	Expected financial implications	Quantum of claims (in Rs. crores)
1	Rectification order dated June 29, 2026 amending assessment u/s 143(1) of the Income-tax Act, 1961, passed by the jurisdictional Assessing Officer in Noida for Assessment Year 2019-20 (Financial Year 2018-19) disallowing the claim of brought forward losses of Rs. 53.37 crores	DCIT, Noida	Company is in the process of filing an appeal before National Faceless Appeal Centre (NFAC)	Company is in the process of filing an appeal before first level Appellate Authority (National Faceless Appeal Centre - NFAC) against the rectification order and expects to get relief from the Appellate Authority and does not anticipate any material adverse financial implication	Disallowance of claim of brought forward losses of Rs. 53.37 crores

The filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The document has been posted on the company's website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.52%	-0.92%	-0.80%	-9.40%	-16.08%	+31.99%

Jubilant Pharmova Limited 's subsidiary, Jubilant Generics Limited, has received tentative approval from the United States Food and Drug Administration (USFDA) for Pantoprazole Sodium Delayed Release Oral Suspension, 40 mg per packet. This regulatory milestone follows the successful completion of a pre-approval inspection (PAI) conducted by the USFDA at the company's Solid Dosage Manufacturing Facility in Roorkee. The development positions the company to enter the US market upon the expiry of the relevant patent.

Approval Details

The key parameters of the tentative approval are summarised below:

Detail:	Description
Product:	Pantoprazole Sodium Delayed Release Oral Suspension
Dosage:	40 mg per packet
Approval Status:	Tentative
Regulatory Authority:	United States Food and Drug Administration (USFDA)
Patent Expiry:	December 2026

The tentative approval is subject to the expiry of the patent covering the currently listed Reference Listed Drug (RLD). The patent is expected to expire in December 2026, after which final approval for the product is anticipated to be granted, enabling a commercial launch in the US market.

Regulatory Disclosure

The disclosure was made to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the information was received on June 25, 2026, at 11:47 am. Jubilant Generics Limited is a subsidiary of Jubilant Pharma Limited, which is a wholly-owned subsidiary of Jubilant Pharmova Limited.